Deutsche Bank Maintains 30% S&P Return This Year Despite US-China Trade

Deutsche Bank is standing by its call for a 30% return on the S&P 500 this year, despite increasing global fears over the escalating U.S.-China trade dispute.

Binky Chadha — head of asset allocation and chief equity strategist at the firm — told CNBC on Tuesday he is keeping the S&P target at 3,250, which is the highest among major Wall Street firms.



If the S&P were to hit 3,250 by the end of the year, that would represent a 29.7% increase from the index’s 2,506 close on Dec. 31, 2018. The end of last year was rough for the stock market. But so far in 2019, even with uncertainty about whether Washington and Beijing can reach a trade deal and call off their increased tariffs, the S&P has gained about 14%.

The S&P, as of Monday’s close, was only off about 3.4% from its all-time intraday record high of 2,940 on Sept. 21, 2018. That was just before the bottom dropped out.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza